Coinbase, the top crypto exchange in the US, has unveiled a new smart wallet platform that aims to make using blockchain easier than ever.
Gasless Transactions
One of the key features of the new smart wallets is that they eliminate network fees, known as “gas.” This means users can send and receive cryptocurrencies without paying any additional charges.
No More Recovery Phrases
Another pain point of traditional crypto wallets is the need to remember complex recovery phrases. Smart wallets use advanced technology to eliminate this requirement, making it easier for users to access their funds.
Companion Web Application
Coinbase will also offer a web application for smart wallets, providing users with a central platform to manage their assets, make purchases, and view transaction history.
Multi-Chain Support
The smart wallets will initially support eight major blockchain networks, including Ethereum, Polygon, and Avalanche. Coinbase plans to add more chains in the future.
Developer Incentives
Coinbase is encouraging developers to integrate smart wallets into their apps by offering gas credits through its “Base Gasless Campaign.” This will allow developers to sponsor user transactions at no cost.
A New Era for Crypto
Coinbase believes that smart wallets will revolutionize the way people interact with blockchain technology. By removing the barriers of high fees and complex recovery phrases, the company aims to make crypto more accessible and user-friendly.
